Brokerages Anticipate PPG Industries, Inc. (PPG) Will Announce Earnings of $1.10 Per Share

Wall Street analysts expect that PPG Industries, Inc. (NYSE:PPG) will post earnings of $1.10 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for PPG Industries’ earnings, with the lowest EPS estimate coming in at $1.06 and the highest estimate coming in at $1.14. PPG Industries reported earnings per share of $1.19 during the same quarter last year, which would indicate a negative year-over-year growth rate of 7.6%. The business is expected to issue its next quarterly earnings results on Thursday, January 17th.

According to Zacks, analysts expect that PPG Industries will report full year earnings of $5.81 per share for the current fiscal year, with EPS estimates ranging from $5.75 to $5.85. For the next fiscal year, analysts anticipate that the business will report earnings of $6.41 per share, with EPS estimates ranging from $6.12 to $6.60. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover PPG Industries.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, October 18th. The specialty chemicals company reported $1.45 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.45. PPG Industries had a net margin of 8.34% and a return on equity of 27.83%. The business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same period last year, the firm earned $1.52 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis.

Several research firms have weighed in on PPG. JPMorgan Chase & Co. downgraded shares of PPG Industries from an “overweight” rating to a “neutral” rating and set a $113.00 price target on the stock. in a research report on Friday, July 27th. They noted that the move was a valuation call. Vertical Research downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Zacks Investment Research downgraded shares of PPG Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. Deutsche Bank increased their price target on shares of PPG Industries from $114.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, November 1st. Finally, Citigroup decreased their price target on shares of PPG Industries from $113.00 to $103.00 and set a “neutral” rating on the stock in a research report on Thursday, October 11th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $117.81.

PPG opened at $107.71 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.22 and a current ratio of 1.71. PPG Industries has a 1-year low of $94.37 and a 1-year high of $122.07. The company has a market capitalization of $26.07 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 2.25 and a beta of 1.36.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Monday, November 12th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.92 annualized dividend and a dividend yield of 1.78%. PPG Industries’s payout ratio is 32.71%.

Several hedge funds have recently made changes to their positions in PPG. Ontario Teachers Pension Plan Board grew its stake in PPG Industries by 74.6% during the third quarter. Ontario Teachers Pension Plan Board now owns 8,837 shares of the specialty chemicals company’s stock valued at $964,000 after acquiring an additional 3,776 shares in the last quarter. CIBC World Markets Inc. grew its stake in PPG Industries by 30.3% during the third quarter. CIBC World Markets Inc. now owns 15,594 shares of the specialty chemicals company’s stock valued at $1,702,000 after acquiring an additional 3,627 shares in the last quarter. American International Group Inc. grew its stake in PPG Industries by 3.9% during the third quarter. American International Group Inc. now owns 81,543 shares of the specialty chemicals company’s stock valued at $8,899,000 after acquiring an additional 3,043 shares in the last quarter. Girard Partners LTD. grew its stake in PPG Industries by 2.2% during the third quarter. Girard Partners LTD. now owns 30,518 shares of the specialty chemicals company’s stock valued at $3,330,000 after acquiring an additional 669 shares in the last quarter. Finally, AXA grew its stake in PPG Industries by 12.6% during the third quarter. AXA now owns 467,634 shares of the specialty chemicals company’s stock valued at $51,033,000 after acquiring an additional 52,256 shares in the last quarter. Hedge funds and other institutional investors own 78.76% of the company’s stock.

About PPG Industries

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

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